Universities cost a lot of money. It’s not a surprise at this point. Parents may save throughout their child’s entire life just to be able to contribute a portion of the cost. But a college education costs more than just tuition fees. Here are four hidden costs of college you need to account for when budgeting for your education.
- Rooming – If you stay on campus, this fee will be bundled into the bill with your tuition. However, it is often less expensive to stay off-campus. Still, you will have to decide how many roommates you are willing to have to keep the expenses down while still being in an environment conducive to studying.
- Transportation – Living off-campus, while often cheaper, adds this expense. Do you already have a car? If so, transportation costs will include gas, the upkeep of your vehicle, and any parking fees. Public transportation is cheaper but will impact your schedule.
- Food – You have to eat, and you’re probably not going to get all of your meals on campus. Even if you shop frugally and cook at your apartment, you may be surprised at how quickly the food bill adds up (especially if hungry roommates conveniently forget which food is yours).
- Childcare – You may be surprised to learn that more than a fifth of college students have a child. If you don’t have someone who can watch your child when you are at school, you will have to pay someone.
The Help You Need Planning for College
College Planning Source offers webinars and one-on-one assistance to help you plan for your education. Call 858.676.0700 today, or you can request your complimentary assessment online.
